New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-08-05
UNCERTAINTY IN WALL STREET.
disturbed By DIFFERING FACTS AND RUMoRs-
THE NEVADA BANK.

disturbed By DIFFERING FACTS AND RUMoRs-
THE NEVADA BANK.
Wall Street affected in several ways yesterday and
the variety Of facts and rumors was uncertain which
way to turn. The stock market opened active and
Suoyant the expectation that the action Of the Treas
my Department prevented the possibility of high rates
r money. but while officers Of leading banks approved
~ the only measure of relief according to existing
hvs they plainly intimated that 1t would have little
eject the monetary situation In fact they did not
induce their rates for loans and anxious
recently in regard maintaining their 1t
nneraly thought probable that bondhOlders would
seospt the offer prepay interest at rebate when the
initiation would at once depreciate the face value OF
Ner bonds The offer to receive proposals. every wees
n. the purchase of the IL per bonds for the sink
he fund dlsregarded, because the requirements fol
he sinking fund not large and it was considered
Soubtfu If the holders of the bonds would offer them
price which the Secretary Of the Treasury would feel
Of liberty to accept.
The announcement of the collapse OF the California
wheat deal unexpected, but the supposed
seou Of the Nevada Bank With the speculation excited
lively curiosity about the condition Of that institution
II bills Of exchange have been slow OF sale lately
according to foreign exchange brokers' simply
ne bank was believed to be back Of the California wheat
clone. Edward Z. Plat, manager Of the New-York
branch, said In regard to the many rumors:
The published rum0rs about this bank are entirely
Mise You may say that, but do know that am
called upon to make any further statement The bank
been Interested IN Inc wheat uta
Although It undoubtedly has advanced money TO
persons who interested In It, The hank has ample
nzrgiD believe for all its loans but the details OF our
business must be excused from divulgtng."
The Nevada Bank Ia state institution OF California
RRanized under the general law. It's capital Vas
esoed about four years ago from SlOOOO0OO 70
000 evade the attacks capital. popular at
nat tune. There talk about winding up its
sfzrs altogether, and is understood thai c. Flood
is still president Of It. anxious to do AMI
cold the bulk OF his interest TO his partner John
" Msckay. George L. Brander, she vice president Is
vel known in his city and his statement that the BANK
affected by the failure Of the wheat
accepted with great confidence.
The return OF Mr.. Mackay from Europe after brief
o5sencs gave RISE however. to numerous about
De cabe and the prloe Of Western Union telegraph
advanced about per cent on the report that Mr.
nackay had bought James Gordon Benefits interest In
~ Commercial Cable Company and had arranged in
London . settlement with the pool companies. Al the
sce Of the Commercial Gable nothing definite could he
barned about these rumors II was said that IL the
tansfer had been made II private transaction In
VERY way and probably had little to do with the policy
4 the company, for Mr. Maokay had long been In con
nj settlement Of the rate ight be maze at any
ne II the pool companies willing to restore the
- cent rate.